The Large gray T structure from the Election low is now complete (but with a possible 1-2 extra, maybe) and we could now see a significant reduction in buying power.
T volume oscillator makes a significant move down confirming that under the hood the market is entering a distribution phase.
The longer arms of the Cluster T structures are now under threat.
It wouldn't be surprising to see the market open out its range, perhaps make a token new high and also mark out a new lower range suggested by the descending line from the small gap at 2351.
In the meantime the averages are also playing catch up, and significant support lies at the rising lines from the previous consolidation period.
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